Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mrs S J Hutcheon 18/01/2021 Mr R F Hutcheon 18/01/2021 21 February 2024 The principal activity of the Company during the financial year was the development of building projects. 13138628 2024-01-31 13138628 bus:Director1 2024-01-31 13138628 bus:Director2 2024-01-31 13138628 2023-01-31 13138628 core:CurrentFinancialInstruments 2024-01-31 13138628 core:CurrentFinancialInstruments 2023-01-31 13138628 core:Non-currentFinancialInstruments 2024-01-31 13138628 core:Non-currentFinancialInstruments 2023-01-31 13138628 core:ShareCapital 2024-01-31 13138628 core:ShareCapital 2023-01-31 13138628 core:RetainedEarningsAccumulatedLosses 2024-01-31 13138628 core:RetainedEarningsAccumulatedLosses 2023-01-31 13138628 core:Vehicles 2023-01-31 13138628 core:Vehicles 2024-01-31 13138628 bus:OrdinaryShareClass1 2024-01-31 13138628 2023-02-01 2024-01-31 13138628 bus:FilletedAccounts 2023-02-01 2024-01-31 13138628 bus:SmallEntities 2023-02-01 2024-01-31 13138628 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13138628 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13138628 bus:Director1 2023-02-01 2024-01-31 13138628 bus:Director2 2023-02-01 2024-01-31 13138628 core:Vehicles 2023-02-01 2024-01-31 13138628 2022-02-01 2023-01-31 13138628 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 13138628 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13138628 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13138628 (England and Wales)

OAKENHAM LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

OAKENHAM LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

OAKENHAM LIMITED

BALANCE SHEET

As at 31 January 2024
OAKENHAM LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 38,079 6,000
38,079 6,000
Current assets
Stocks 500 3,250
Debtors 4 427 0
Cash at bank and in hand 14,249 10,307
15,176 13,557
Creditors: amounts falling due within one year 5 ( 12,303) ( 18,080)
Net current assets/(liabilities) 2,873 (4,523)
Total assets less current liabilities 40,952 1,477
Creditors: amounts falling due after more than one year 6 ( 21,944) 0
Provision for liabilities ( 6,469) ( 205)
Net assets 12,539 1,272
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 11,539 272
Total shareholders' funds 12,539 1,272

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Oakenham Limited (registered number: 13138628) were approved and authorised for issue by the Board of Directors on 21 February 2024. They were signed on its behalf by:

Mr R F Hutcheon
Director
OAKENHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
OAKENHAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Oakenham Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Oakenham, Ugborough, Ivybridge, PL21 0HQ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 February 2023 6,000 6,000
Additions 35,039 35,039
At 31 January 2024 41,039 41,039
Accumulated depreciation
At 01 February 2023 0 0
Charge for the financial year 2,960 2,960
At 31 January 2024 2,960 2,960
Net book value
At 31 January 2024 38,079 38,079
At 31 January 2023 6,000 6,000

4. Debtors

2024 2023
£ £
Prepayments 427 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 3,378
Amounts owed to directors 944 2,715
Accruals 2,425 2,450
Taxation and social security 4,134 9,537
Obligations under finance leases and hire purchase contracts (secured) 4,800 0
12,303 18,080

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 21,944 0

Obligations under finance leases and hire purchase contracts are secured over the fixed assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000